Popular Japanese crypto lender platform FeulHash added support for XRP coin.
XRP is a popular Proof-of-stake (PoS) blockchain network supported cryptocurrency. Ripple Labs is responsible for all development works on the XRP Ledger blockchain network. Ripple is a San Francisco-based Fintech company, which provides cross-border payment services with the use of XRP coin under a decentralised medium.
On 14 Feb 2023, A popular Japanese Crypto lending platform FuelHash announced support for XRP coin. So, now FuelHash customers can lend & earn XRP coins easily.
FuelHash customers can deposit a minimum of 100 $XRP coins to lend for between 60 and 90 days with the annual percentage yield between 1% and 1.5% respectively.
Ripple vs SEC
In December 2020, The United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple company. Through the lawsuit, the SEC agency claimed that the XRP token was an unregistered security token and also said that Ripple executives violated securities law because they sold more than $1.3 billion worth of unregistered securities publicly.
After the XRP lawsuit, all the US-based crypto exchanges suspended XRP coin deposits, withdrawals & Trading. To this date, legal fights between SEC & Ripple going on, and also crypto exchanges are waiting to see legal clarity on the nature of the XRP coin.
Once Ripple executives claimed that the SEC agency was targeting successful crypto business and also noted that many crypto projects were running their business more likely to XRP coin but SEC is silent.
Many legal experts in the Crypto industry shared their opinion on the Ripple vs SEC case and said that Ripple stands strongly in the case & probably the SEC will settle the case without prior announcement.